Yes true, but i dont want to invest into more houses for many reasons, in the state of NJ/NY and many more states tenants can get away with years of not paying rent, also they trash the house not all tenants  but some do. 

Talk with a real estate lawyer as this may work a little different in each state. 

Also, be careful with your lease terms: we specify all tenants, including minors, and state "No Others" specifically.

Is my accountant accurate in stating I cannot deduct the expenses related to the property if it's not listed in an LLC?

As an out of state investor, I think STRs are now the way to go.

I would love to hear a story of someone where they explain how insurance has helped them with their property.I am getting into out of state real estate investing this month and am curious to hear other perspectives.  

But no doubt we have to keep in mind as stated this site caters to a lot of folks starting their journey so to us who have been on the site for a minute or two it seems repetitive but to the new investor its not they dont know what they dont know.

As much as I want to drive around I am an out of state investor looking at buy and hold MF.

If you're looking for out-of-state properties, start with turnkey single-family homes or small 2-4 unit properties while building your local network and establishing boots on the ground.

There isn't enough information in here about the current state of the house to be able to advise you, but I would think #3 is a definite no as it seems unnecessary from a cost perspective although that market has scale to accept it.